Martha Stewart Living Omnimedia has purchased the Emeril Lagasse franchise for $50M in cash and stock options. What the deal doesn’t include are Emeril’s 11 restaurants and corporate office.

Martha Stewart will be adding to her line cookbooks, TV shows, cookware and kitchen products from Emeril Legasse.

As you recall from last month, Emeril’s most successful show, Emeril Live, stopped taping after many years on air on the Food Network. He currently is still taping shows of The Essence of Emeril for the Food Network.